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Allstate ALL All other — Deferred policy acquisition costs

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Other financials

Income statement

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Revenue$18.6B+11.8%
Net income$3.3B+55.1%
EPS (diluted)$12.51+61.2%

Balance sheet

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Cash & equivalents$840.0M-15.6%
Total debt$7.5B-7.4%
Total equity$33.7B+40.3%
Total assets$124.76B+7.6%

Cash flow

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Operating cash flow$2.6B+40.6%
CapEx$43.0M
Free cash flow$2.6B+38.3%

Valuation

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Market cap$67.51B+23.9%
Enterprise value$74.17B+20.4%
P/E5.1×-4.3×
P/S+0.1×

Profitability

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Net margin18.9%+10.2pp
FCF margin17.5%+4.6pp

Returns & leverage

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Return on equity46%+18.8pp
Debt / equity0.2×-0.1×

Where this comes from

Reported directly by Allstate in its filing.

Tagged under the XBRL concept us-gaap:DeferredPolicyAcquisitionCostsAndValueOfBusinessAcquired.

The source filing: Allstate’s 10-K, filed February 20, 2026.

Filed
Feb 19, 2026, 7:00 PM EST
Fiscal year
FY2025
Accession
0000899051-26-000031
($ in millions)For the years ended December 31, 2025For the years ended December 31, 2024For the years ended December 31, 2023
Experience adjustment(5)(17)(32)
Reclassified to assets held for sale (1)(5)(521)
Ending balance$6,163$5,773$5,940
Allstate Protection$2,803$2,548$2,378
Protection Services3,2743,1613,022
Allstate Health and Benefits1497
All other866343
Total$6,163$5,773$5,940

Item 8. Financial Statements and Supplementary Data

FAQ

What is Allstate's all other — deferred policy acquisition costs?
Allstate (ALL) reported all other — deferred policy acquisition costs of $86M in Q4 2025.
What does all other — deferred policy acquisition costs mean?
This metric represents the unamortized portion of costs directly associated with the acquisition of new or renewed insurance policies within the 'All Other' business segment. These costs typically include commissions, underwriting expenses, and other policy issuance costs that are capitalized and amortized over the life of the related insurance contracts. It serves as a measure of the investment made to secure future premium revenue within non-core or miscellaneous business lines.

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